...The Promise Continues

Greetings! On behalf of our campus community, I am honored and pleased to thank you for your generosity and participation in The Campaign
for UC Santa Barbara. Our enthusiasm and momentum continue to grow, and we have now reached the $979-million mark on a steady march toward
our billion-dollar goal.

We are particularly inspired by and grateful for the leadership of our Campaign co-chairs, Jeff Henley '66 and Lady Leslie Ridley-Tree
H'12; our honorary Campaign chair, Michael Douglas '68; our many regional committee members; and our Trustees, faculty, alumni,
parents, friends, and volunteers, as well as the hard work of our Development team, our administrative and faculty colleagues, and our
staff and student volunteers.

Your visionary guidance and generous support are key factors in helping UC Santa Barbara maintain and enhance our stature as a preeminent
global university with the highest reputation in research, teaching, and service at the frontiers of every area in which we excel.
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Charlie Munger, the vice chairman of Berkshire Hathaway Corporation, has made the largest single gift to UC Santa Barbara in the
university's history. With a gift of $65 million, Munger is funding a new visitor housing facility for the campus-based Kavli
Institute for Theoretical Physics (KITP), the world's leading collaborative study hub of its kind.

Munger was first introduced to physics as a college student in 1941. That particular encounter was rather brief — World War II saw to
that — but the hard science made a strong impact.

After his service with the Army, Munger went on to become first a lawyer, then an investor — arguably one of the world's best.
Today, as he has since 1978, he helps helm Berkshire-Hathaway with friend and business partner Warren Buffett. And still he credits
physics, and its fundamental approach to problem-solving, for some of his success.

"Physics has enormously helped me in life — the logic and power of it," Munger said. "Once you see what a combination of calculus and
Newton's laws will do and the things you can work out, you get an awesome appreciation for the power of getting things in science
right. It has collateral benefits for people. And I don't think you get a feeling for the power of science — not with the same
strength — anywhere else than you do in physics."

He'd put money on it. And he is.

Funded continuously by the National Science Foundation since 1979, the KITP also receives additional operational support from the
Burroughs Wellcome Fund, the Kavli Foundation, the Gordon and Betty Moore Foundation, the National Institutes of Health and the Simons
Foundation.

Construction of the KITP Residence by The Towbes Group Inc. is expected to commence this October, and should be complete in two years.

Oracle Chairman, Jeff Henley, a 1966 UC Santa Barbara alumnus with distinction, and his wife, Judy, honorary alum since 2009, have
committed $50 million to UC Santa Barbara for the Institute for Energy Efficiency and the College for Engineering. Their visionary
investment, the largest in the history of the University, launches and propels the campus toward the $1 billion goal for the campaign.
Jeff is the Campaign's Co-chair.

"This gift allows us to play an important role in supporting the priorities of the University and the College of Engineering, by
significantly advancing the sciences and the Institute for Energy Efficiency," Jeff Henley said. "We hope to create new opportunities
for research and discovery, and to support UC Santa Barbara's already strong commitment to preparing the next generation of scientists
and engineers."

Campaign Co-chair Jeff HenleyVideo provided by KEYT.COM

"The philanthropic leadership of Jeff and Judy Henley is deeply inspiring;
we are thrilled by their vision and generosity, and excited about the
momentum their gift provides as we launch the next phase of our
billion-dollar Campaign for UC Santa Barbara," said Chancellor Henry T.
Yang. "Jeff and Judy have contributed to our university in countless ways
over the years, including the Henley Chair in Economics and the beautiful
Henley Gate that stands as the iconic entrance to our campus. We are
tremendously honored that this transformative $50 million gift for our
Institute for Energy Efficiency and our College of Engineering, the largest
gift in the history of our campus, will become part of the Henleys' living
legacy at UC Santa Barbara."